Capital International Investors Reduces Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Capital International Investors lessened its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,461,287 shares of the company's stock after selling 1,349,138 shares during the quarter. Capital International Investors owned 3.41% of Corteva worth $1,336,355,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CTVA. Flagship Wealth Advisors LLC acquired a new position in Corteva in the 4th quarter valued at about $25,000. Noble Wealth Management PBC purchased a new position in shares of Corteva in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new position in shares of Corteva in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva during the 4th quarter worth approximately $32,000. Finally, Centricity Wealth Management LLC acquired a new stake in Corteva during the 4th quarter worth approximately $34,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares of the company's stock, valued at $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Corteva Stock Performance

CTVA traded up $0.41 on Wednesday, hitting $61.06. 933,797 shares of the company traded hands, compared to its average volume of 3,304,528. The company has a 50 day moving average of $60.87 and a 200-day moving average of $60.32. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The stock has a market capitalization of $41.70 billion, a PE ratio of 47.33, a PEG ratio of 1.68 and a beta of 0.73. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. Corteva's payout ratio is currently 52.71%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CTVA. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a research note on Monday, March 31st. Royal Bank of Canada lifted their price objective on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Oppenheimer lifted their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. UBS Group reduced their price objective on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and a consensus price target of $68.13.

Corteva Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.